The boycott movement against Loblaw over high food prices is gaining momentum, with organizers realizing the need to target more than just grocery stores to impact the corporation’s bottom line. Loblaw Companies Ltd. owns a vast network of store brands across various sectors, including food, pharmacies, fashion, beauty, and financial services. The movement, which started in May, is now targeting not just grocery stores but also other services owned by Loblaw.
One of the boycott leaders, Emily Johnson, has already taken steps to close her PC bank account and move her prescriptions to a local pharmacist. The movement has also highlighted the extensive reach of Loblaw, with its grocery division alone encompassing a wide range of store brands.
Despite its diverse portfolio, Loblaw still generates the majority of its revenue from its grocery stores. However, its drug and pharmacy retail segments have shown strong growth, contributing to higher profits. The company’s PC Financial services have also seen significant growth in revenue.
The boycott movement has prompted Canadians to show solidarity in various ways, including writing to their local member of Parliament, donating to food banks, and sharing information on social media. While some may not be able to fully boycott Loblaw’s services, the movement aims to encourage solidarity among Canadians to continue growing.
Overall, the boycott movement against Loblaw is challenging the corporation’s dominance in the market and raising awareness about rising prices at corporate grocers. The organizers are determined to make an impact and are actively engaging Canadians to join the cause.